Japan further opens up to digital assets and intends to allow investment funds to hold Crypto Assets

Japan has taken a step closer to allowing venture capital firms and other investment funds to directly hold digital assets after the government of Japanese Prime Minister Fumio Kishida agreed to submit a revised bill to implement the adjustment. Fumio Kishida's cabinet approved the text of a bill on February 16 aimed at partially amending the country's Industrial Competitiveness Enhancement Law, according to a statement published on the METI website. "Measures will be taken to add cryptoassets to the list of assets that can be acquired and held by investment limited partnerships," the bill states. An investment limited partnership here refers to a vehicle used by a venture capital firm to secure investment capital. The Japanese government now plans to submit the bill to the current Diet for discussion.